TurboDebt is a relatively new player in the debt relief industry, established to help individuals struggling with unsecured debt. Despite its short history, the company has quickly gained attention due to its aggressive marketing and claims of significant debt reduction. At DebtQuench, we’ve taken a deep dive into TurboDebt’s offerings, customer feedback, and the fine print to provide you with a comprehensive review that will help you make an informed decision.
Summary:
TurboDebt specializes in debt settlement, negotiating with creditors to reduce the amount owed by clients. The company targets individuals with high levels of unsecured debt, such as credit cards or personal loans, offering personalized plans that typically span 24 to 48 months. TurboDebt’s services are not available in all states, and not all debts are eligible for their programs. While their marketing suggests significant savings, the actual benefits can vary widely depending on individual circumstances.
Pros and Cons:
As with any service, there are pros and cons to consider when choosing TurboDebt.
- High Customer Satisfaction
- A+ BBB Rating
- Customized Debt Solutions
- Aggressive Marketing
- Limited Track Record
- Mixed Customer Service Reviews
TurboDebt Services:
TurboDebt offers a comprehensive debt settlement service aimed at reducing unsecured debt through creditor negotiations. Key features of their service include:
- Dedicated Savings Account: Clients deposit funds monthly into an account used for settlements.
- Potential Savings: Clients may see around 25% savings after fees, over 24 to 48 months.
- Impact on Credit: Participation may negatively affect credit scores.
- Service Limitations: Not all debts qualify, and TurboDebt doesn’t provide loans, legal advice, or credit repair services.
- State Availability: Services are not available in all states, and understanding the terms is crucial.
TurboDebt Pricing:
TurboDebt’s pricing is based on a percentage of the total debt enrolled in their program, typically ranging from 15% to 25%. Key aspects include:
- Performance-Based Fees: Fees are only charged after a successful debt settlement.
- Varies by Case: The exact percentage may vary depending on individual circumstances.
- Impact on Savings: Combined with tax consequences, fees can affect overall savings.
- Transparency: Clients should review the fee structure carefully to ensure it aligns with their financial goals.
Qualification and Application Process:
TurboDebt’s program is designed for individuals with significant unsecured debt, typically requiring at least $10,000 in debt to qualify. The process begins with a free consultation, where a representative evaluates your financial situation and recommends a personalized debt relief plan. Key aspects include:
- Debt Threshold: Minimum $10,000 in unsecured debt.
- Free Consultation: Initial assessment to tailor a debt relief plan.
- Dedicated Account: Clients save monthly in a special account for future settlements.
- State Availability: Services may not be available in all states, so confirm eligibility.
TurboDebt Contact Info:
Address: 1643 NW 136th Ave Bldg H, Sunrise, FL 33323-3091
Phone: (866) 830-5449
Website: turbodebt.com
TurboDebt Online Customer Reviews:
TurboDebt has a strong presence on both BBB and Trustpilot, reflecting a mix of positive and critical feedback.
BBB Rating: TurboDebt holds an A+ rating with a 4.93/5 star average from over 1,200 reviews. Many customers appreciate their debt relief services, but there are 58 complaints over the past three years. Common issues include aggressive sales tactics and customer service concerns, such as delayed responses and unhelpful interactions.
Trustpilot Reviews: On Trustpilot, the reviews are more varied. While some clients report significant debt reductions and successful experiences, others express dissatisfaction with the program’s outcomes and communication challenges. Specific complaints highlight confusion over fees, the impact on credit scores, and the lack of transparency in the settlement process.
Overall, while many customers have had positive experiences with TurboDebt, prospective clients should be aware of recurring issues related to customer service and marketing practices. This blend of reviews suggests that while TurboDebt can be effective, the experience may vary significantly depending on individual circumstances and expectations.
Conclusion
TurboDebt offers a potential solution for individuals struggling with significant unsecured debt, but it’s crucial to approach their services with caution. The company’s high customer satisfaction ratings and A+ BBB rating are encouraging, but their aggressive marketing tactics and mixed reviews indicate that not every customer has a positive experience. At DebtQuench, we believe that while TurboDebt may be a good option for some, it’s important to thoroughly understand the potential risks and costs involved before enrolling in their program.
Frequently Asked Questions
Here are 10 frequently asked questions about TurboDebt.
What services does TurboDebt offer?
TurboDebt provides debt settlement services aimed at reducing the total amount of debt owed by negotiating with creditors.
How much does TurboDebt charge?
Fees range from 15% to 25% of the total enrolled debt, charged after a debt settlement is successfully negotiated.
Is TurboDebt legitimate?
Yes, TurboDebt is a legitimate company with an A+ rating from the BBB.
Can TurboDebt guarantee debt reduction?
No, TurboDebt does not guarantee that your debt will be reduced by a specific amount or that you will become debt-free within a certain period.
What types of debt does TurboDebt handle?
TurboDebt primarily deals with unsecured debts like credit cards, medical bills, and personal loans.
How does the application process work?
The process begins with a free consultation, followed by an enrollment process where you save money in a dedicated account for debt settlements.
Are there any upfront fees?
No, TurboDebt only charges fees after a successful debt settlement.
How long does the debt relief process take?
The program typically lasts between 24 to 48 months, depending on the individual’s financial situation.
What are common complaints about TurboDebt?
Common complaints include aggressive marketing practices and issues with customer service responsiveness.
How do I contact TurboDebt?
You can contact TurboDebt at (866) 830-5449 or visit their website at turbodebt.com.